Report: Delia’s is on auction block
New York City -- A Thursday report by the New York Times said that teen retailer Delia’s has put itself up for sale.
According to the report, the company has been soliciting interest from buyers including private equity firms. Delia’s has not confirmed the report, and it is currently unknown what, if any, other options the retailer is considering.
Delia’s has about 115 mall-based stores in 33 states. Revenue for the third quarter ended Oct. 30, 2010, was $61 million. It lost $22 million through the first nine months of the 2010 fiscal year, more than double its loss for the same period a year before.
New York boutique investment bank Financo is advising Delia’s, according to the Times.